The Winner's Curse: Paradoxes and Anomalies of Economic LifeThe rationale of economics has come to dominate political and institutional life in recent years. However, many economic assumptions have received only scant study. This book examines the many anomalies that abound in even simple economic transactions. |
Contents
Cooperation | 6 |
The Ultimatum Game | 21 |
Interindustry Wage Differentials | 36 |
Copyright | |
10 other sections not shown
Other editions - View all
The Winner's Curse: Paradoxes and Anomalies of Economic Life Richard H. Thaler No preview available - 2021 |
The Winner's Curse: Paradoxes and Anomalies of Economic Life Richard H. Thaler No preview available - 1992 |
Common terms and phrases
Allocators anomalies arbitrage asked asset value auction average behavior bets bettors bias bidders cash changes choice closed-end funds consumption contribution cooperation correlation costs discount rates dollar economic theory economists efficient market hypothesis endowment effect estimates evidence example excess returns exchange rate expected experimental experiments explain fact foreign exchange foreign exchange markets horse hypothesis implies income increase industry wage interest differential interest rates investment investors January effect Journal of Economic Kahneman less losers loss aversion mean reversion mental accounting net asset value noise traders NYSE observed offer pattern payoffs percent period Player portfolio predictions preference reversal premia procedure invariance profits racetrack rational risk premium saving sell small firms status quo status quo bias stock prices strategy subjects Thaler tion trading Tversky ultimatum game utility wage differentials wealth winner's curse winners workers Ziemba